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Remain long towards 114.00

Remain long towards 114.00 | 17 July 2018

17 July 2018, USD/JPY

Remain long towards 114.00

Wave Analysis

After the break above 111.040, the US Dollar rallied higher and is still pretty much bullish both on the daily and the weekly charts. As long as the price remains above this level, we expect a possible momentum to the upperside. The anticipated bullish price is the continuation of the impulsive wave (c) and should break above 114.82 but should not go above 118.00. This view can only be rendered futile in case the price breaks below 111.040 or rebound from 114.00. Either ways, we'll be looking for a sell position.

Trade Recommendations:

Remain long towards 114.00

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Bob Stan
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